Chestnut Hill, Mass. -- WS Capital Partners, the institutional investment arm of WS Development, announced that it has completed the acquisition of Hilldale Shopping Center, a 474,000-sq.-ft. retail center located in Madison, Wis.
Anchored by Macy’s, Metcalfe’s Market, Sundance Cinemas and Target, Hilldale Shopping Center serves the entire Madison metropolitan area, including the nearby University of Wisconsin-Madison.
WSCP identified the off-market opportunity more than two years ago. It purchased the senior and junior non-performing loans on an all-cash basis in February, and successfully bid $52 million for both mortgages at a Sheriff’s sale in May. The bid was approved by the Dane County Court on June 4.